Pixies Place Forums - View Single Post - What's the Economical Outlook Looking Like?

Quote:

Originally posted by skipthisone
Well I read my trade mags (printing) and they keep downing the forecast for the year. My companies president has taken a different look at things. He has chosen to not let our company partake in the recession. In the last year we have added equipment and employees and our profit went up 4% last year.

I have my degree in economics (but do not practice) and it is just my opinion, but this thing was started by the tech fall and the furthered by 9-11 and the worries there after. Japan and other areas were in a slump before us and frankly the stock market and other things were way overpriced. The state goverments are in the red by billions (34 states at last count), mostly because they overspent during the boon of the 90's and now cannot bring themselves to cut what needs cut. So some are raising taxes..some are having bake sales (think that was somewhere in nebraska).

BTW, Case in point a great article I read (will attach the article when i find it). If California would today go back to the budget they had in 1996 and not raise any taxes they would have close to 400 million dollars left over.

I personally think this will be short lived. I think the federal tax cut is a good thing, but think it should be attached to spending cuts not to going into debt. No recession has ever lasted forever, no boom has ever lasted forever, it goes in cycles. We were just spoiled of how long the last one went. I hate it that there is this unemployment and someday I am sure I will be one of them at some point. Be it now or 30 years from now.

Said enough.

Who are you and what have you done with skip?!